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This question belongs to Commerce Insurance

Insurance

?

Select the option that best describes a policy document.

A) It is evidence of the insurance contract B) It is evidence of the interest expressed by the insured in buying an insurance policy from Co C) It is evidence of the policy (procedures) followed by an insurance company when dealing with channel partners like banks, brokers and other entities D) It is an acknowledgement slip issued by the insurance company on payment of the first premium

Answer & Solution

Correct Answer: Option A

Policy document is a detailed document and it is the Evidence of the insurance contract which mentions all the terms and conditions of the insurance. The insured buys not the policy contract, but the right to the sum of money and its future delivery.

Question posted by Examveda

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